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Procurement Market Intelligence Report
Packing Tools
Sourcing Guide & Market Trends
Comprehensive intelligence for making smart purchasing decisions
Learn about actual and potential costs
How much should I pay for Packing Tools?
What is the average price of Packing Tools?
This procurement report includes pricing information to help you purchase Packing Tools. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Packing Tools been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Packing Tools yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Packing Tools?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Packing Tools with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
The packing tool market has a low level of market share concentration, with the top four vendors accounting for roughly 20.0% of total market revenue. While barriers to entry for manufacturers are moderate due to the capital investments needed to start a plant, barriers to entry are much lower for... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
Regulation
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
Competition
How do your products differ from your competitors’?
Which companies are your biggest competitors, and what aspects of your business are better than theirs?
What is your client retention rate?
What percentage of your revenue comes from your largest clients? In which industries do they operate?
How do you win and retain business?
How do you ensure stable relationships with your suppliers in comparison with other packing tool suppliers?
Supplier Size
To what size and type of buyer does your company typically supply packing tools?
How experienced is your company with supplying the type and specifications of packing tools I require?
Do you have experience with large orders? How much of each product do you typically keep on hand?
Do you offer volume or bundled discounts? If so, what are the thresholds that must be reached?
Where are your distribution centers located?
Product Offerings
What different types of packing tools do you offer?
Can you recommend packing tools that will be appropriate for my application?
Other than packing tools, what related products do you offer?
Do your packing tools come in different sizes and models? How do you decide which models and sizes to carry?
Quality of Materials
What types of materials are your products made of?
What is the typical life span of your tools?
What is the best-selling material for packing tools?
How do you test the quality of each packing tool?
Outsourcing
Do you manufacture the products, or does another company manufacture them?
Are they manufactured in the United States or overseas?
Have you had any problems with delays in deliveries from your suppliers?
How have delays affected your clients?
Have you had any problems with quality from your suppliers in the past?
Shipping
How long, on average, do your products take to ship?
What expedited shipping options do you offer?
Which regions or countries are you unable to ship your products to?
What is the most cost-effective shipping method?
What percentage of shipments has been late in the past three years?
Supply Chain Risk
How have your production costs changed during the past three years?
How do input cost fluctuations affect your clients?
What do you do to mitigate increases in production costs?
Do you have contracts with multiple raw materials suppliers or manufacturers? If so, which materials do they supply through the contracts?
What are the criteria for picking the manufacturers or suppliers you partner with?
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Key elements for every RFP
What should my RFP include?
Project Budget
Buyers should explicitly state the amount of the contract award.
Buyers should explain when and how many payments will be made.
Buyers can consult the Benchmark Price section of this report to determine about how much they should pay for their packing tools.
Selection Criteria
Buyers should evaluate the experience of the supplier.
Buyers should make sure the provider offers appropriate types of packing tools with the appropriate specifications and durability.
Buyers should evaluate suppliers based on the estimated costs of the units they are offering.
For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard section of this report.
Project Schedule
Buyers need to include the date when proposals are due and when award information will be available.
Buyers should include any other benchmark dates relevant to the project that suppliers will need to be aware of.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Supply chain risk is moderate in the packing tool market. First and second tier suppliers provide manufacturers with the raw materials needed to produce packing tools. Among the second tier suppliers, petroleum distributors pose the largest threat. Oil, which is a key input for plastics used in packing tools, has... Subscribe to learn more.